M/Y ‘Icon’ reduced by €10 million since mid-2016

Despite an extensive, value-adding refit in 2014, the 67.5m motoryacht has dropped in price by a further €4 million…

M/Y Icon, the 67.5m Icon Yachts build, has been a lively central agency listing since coming back onto the market in June 2016 with Jean-Marie Récamier of Camper & Nicholsons – at the time listed for sale at €62.5 million.

She underwent a €6 million price reduction in September 2016 in an attempt to spur some interest at the Monaco Yacht Show (MYS). She was berthed on the end of Quai des Etats Unis – E01, one of the largest berths on the north side of Port Hercule, with the surrounding pier lending itself as a viewing platform for the bustling local brokerage stands – and looked almost guaranteed to be sold by Christmas.

But, an additional €4 million price cut now sees her asking €52.5 million, with the addition of Fraser Yachts as co-central agents. “The new asking price is a strong message that the owner will be considering offers, so if someone did want to make an offer on the yacht, now is the perfect time,” explains Récamier.

Icon was commissioned by the owner of Icon Yachts and delivered in 2010. The current owner bought the shipyard and the vessel in 2014, subsequently engaging Icon in an extensive refit that saw her undergo a five-metre main deck protraction, allowing for a swimming pool extension, expanded beach club area, a larger gym, a new Hammam and a sauna. The extension not only saw Icon increase in size, but gave the vessel a significantly improved look and “added considerable value,” according to Récamier,

“She’s proven her seaworthiness. She achieved the highest charter income out of any yacht this size in the industry last year. She did 93 days of charter on top of the owner’s use, so she has very good potential. She could have done well over 100 days if the owner hadn’t used her,” he adds.

Despite a shortage of yachts between 65 – 70m on the market, there are actually three other yachts in this LOA category that were also built in 2010 and are for sale. Nobiskrug’s Sycara V is priced at Icon’s initial listing price of €62.5 million and the two Codecasa builds, Family Day at €39.5 million and Double Down at $46.55 million.

The disparity between the asking prices is well-defined, but with Icon’s value-adding refit in 2014, her decline in price and her impressive commercial record, her position on the market looks increasingly competitive.

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